Annovis Bio, Inc. (NYSE:ANVS) Sees Significant Drop in Short Interest

Annovis Bio, Inc. (NYSE:ANVS) was the recipient of a significant decrease in short interest during the month of February. As of February 15th, there was short interest totalling 1,440,000 shares, a decrease of 25.4% from the January 31st total of 1,930,000 shares. Based on an average daily trading volume, of 495,200 shares, the days-to-cover ratio is currently 2.9 days.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ANVS shares. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Annovis Bio in a research report on Monday, November 11th. D. Boral Capital reaffirmed a “hold” rating on shares of Annovis Bio in a report on Monday, February 10th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Annovis Bio has a consensus rating of “Buy” and a consensus target price of $37.00.

Annovis Bio Stock Up 1.9 %

NYSE ANVS traded up $0.03 during midday trading on Wednesday, hitting $1.69. The company had a trading volume of 224,885 shares, compared to its average volume of 614,797. The firm has a fifty day simple moving average of $3.88 and a two-hundred day simple moving average of $6.39. Annovis Bio has a fifty-two week low of $1.57 and a fifty-two week high of $20.00. The stock has a market cap of $24.09 million, a price-to-earnings ratio of -0.38 and a beta of 1.63.

Institutional Investors Weigh In On Annovis Bio

Several hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its stake in Annovis Bio by 30.0% during the third quarter. Geode Capital Management LLC now owns 99,114 shares of the company’s stock valued at $799,000 after acquiring an additional 22,881 shares during the period. Merit Financial Group LLC increased its position in shares of Annovis Bio by 269.0% during the fourth quarter. Merit Financial Group LLC now owns 98,516 shares of the company’s stock valued at $496,000 after purchasing an additional 71,816 shares during the period. Jane Street Group LLC increased its position in shares of Annovis Bio by 99.7% during the fourth quarter. Jane Street Group LLC now owns 68,107 shares of the company’s stock valued at $343,000 after purchasing an additional 34,001 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Annovis Bio in the fourth quarter valued at $258,000. Finally, Quest Partners LLC bought a new position in Annovis Bio in the third quarter worth $371,000. Institutional investors own 15.83% of the company’s stock.

Annovis Bio Company Profile

Annovis Bio, Inc, a clinical stage drug platform company, develops drugs to treat neurodegeneration. The company's lead product candidate is Buntanetap, which has completed three Phase 1/2 clinical trials for the treatment of Alzheimer's disease (AD), Parkinson's disease, and other chronic neurodegenerative diseases.